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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Milford, Business Loans > United Community Bank Milford Business Loans > Retail Bakeries Loan | ||||
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Who Lends Money to Spirit Lake Small Business Owners
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Local Business Gets an Iowa Business LoanIowaBusiness loans are available to Iowa business owners through the SBA. In this case, an Iowa bank provides the loan. Getting a small business loan in Spirit Lake, Iowa was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from United Community Bank. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender UNITED COMMUNITY BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries NAICS Code 311811 - Retail Bakeries Loan Approval Date 1/21/2000 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $38,400. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Community Bank and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Role of Business Plan When Raising Money SBA 7A Lenders in Milford, Iowa SBA Participating Banks in Iowa
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